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Carnegie Endowment Report Shows How Over £30M Illicit Financial Flows from Nigeria to UK Education Sector

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The Carnegie Endowment for International Peace report, commissioned by the UK Government, spotlights risks of illicit financial flows to UK education sector
On Thursday 28 January 2021, the Carnegie Endowment for International Peace in partnership with the Foreign, Commonwealth and Development Office (FCDO) launched a paper called “West African Elites’ Spending on UK Schools and Universities: A Closer Look”.

The paper was commissioned by the FCDO and written by Matthew T. Page, a scholar at the Carnegie Endowment. The paper follows on from an overarching assessment of bribery and corruption risks to UK independent schools carried out in December 2020 by the UK’s National Crime Agency and the Joint Money Laundering Intelligence Taskforce.

This report focuses on West African elites, including those from Nigeria. Its purpose is to start a conversation between independent schools and law enforcement in the UK, to develop our shared understanding of the money laundering threat to the sector and identify how to best address the ongoing risks.

It is difficult to calculate how much illicit finance flows into the UK private education system from West Africa.

However, the report finds that the figure is likely to be more than £30 million in fees alone and that most of these funds emanate from Nigeria (given its size and long tradition of families sending their children to UK private boarding schools and universities) and to a lesser extent Ghana.

This estimated amount was calculated using recent school and university census data, average school and university fees for the 2019/2020 academic year and the more speculative estimate that 5% of university students and 30% percent of private boarding school students from countries West Africa have financial links to PEPs.

It is important to note that the overwhelming majority of Nigerian students in the UK pose no corruption risk and their families do not possess unexplained wealth.

However, many institutions are popular destinations for the children of politically exposed persons (PEPs) from Nigeria, including some who channel unexplained wealth into the UK education sector.

One of the reports key findings is that many Nigerian graduates of UK schools and universities are children of PEPs who have been convicted of corruption-related offences or had assets confiscated by UK courts.

Recognising the risk illicit financial flows from Nigeria and other parts of the world poses to the UK and its educational sector, UK educational institutions are beginning to incorporate anti-corruption guardrails into their practice.

For example, the Independent Schools Bursars Association and Independent Schools Council are fully engaged with the NCA/JMLIT report and have committed to preventing proceeds of crime from entering the UK and preserving the reputation of UK independent schools.

Equally, UK Government agencies are committed to implementing policies to effectively combat illicit financial flows into the UK.

In response to this report, British High Commissioner to Nigeria Catriona Laing said:
“Tackling illicit corruption in Nigeria is critical to the country’s prosperity and security, and to addressing poverty and inequality.

“The UK is working in partnership with Nigeria to tackle corruption and illicit finance and has excellent relationships with Nigerian agencies and civil society who are fighting corruption.

“The UK has a zero-tolerance approach to corruption and remains committed to tackling it wherever it happens, including in the United Kingdom (UK) education system.

“The UK Government commissioned the Carnegie report in order to better understand the risk to the UK from illicit finance in West Africa. We will now consider the reports finding and take a view on what if any further action is required.”


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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INEC Warns of Fake Ad-hoc Staff Recruitment Portal

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Independent National Electoral Commission (INEC) has raised alarm about a fake and unauthorized website falsely claiming to be an “INEC Ad-hoc Staff Recruitment Portal 2026.”

INEC Warns of Fake Ad-hoc Staff Recruitment Portal

The Commission raised the alarm in a statement published on its website late Tuesday.

It identified the fake recruitment website as okripeti.org/Inec-ADhoc-Sta…

The Commission affirmed that the website is fake and not affiliated with the it in any way.

“Members of the public are advised that any information, statistics, or application forms on this website are false, misleading, and intended to deceive unsuspecting applicants.”

It also advised anyone who has already registered on the fake portal to discontinue immediately and reapply only through the official INEC links provided above.

“INEC remains committed to transparency, credibility, and the protection of the public from fraudulent activities,” the Commission said.

The Commission also said it conducts Ad-hoc Staff recruitment ONLY through its official platform known as INECPRES.

It listed the only authentic links for the 2026 FCT Area Council Election Ad-hoc Staff recruitment as: •🌐 Web & iOS: pres.inecnigeria.org •📱 Android (Mobile App): presmobile.inecnigeria.org

It added that any other website or link outside the above is not authorized by INEC.

It thereforfore advised prospective applicants to verify all recruitment information using INEC’s official websites, not to click or register on suspicious or unofficial links
not to submit personal details (BVN, passwords, OTPs, or bank details) on non-INEC platforms and to always check that the URL ends with inecnigeria.org


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NRS Boss Dismisses Fears of Political Weaponisation in Tax Reforms

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Dr. Zacch Adedeji, Chairman of the Nigeria Revenue Service (NRS), has allayed fears that the new tax reform framework could be weaponised by the Federal Government to target political opponents or individuals based on affiliation.

NRS Boss Dismisses Fears of Political Weaponisation in Tax Reforms

Dr. Zacch Adedeji

Adedeji, responding to concerns over potential selective enforcement or politically motivated tax scrutiny, insisted the reforms prioritise national interest, transparency, due process, and institutional accountability.

Addressing speculations on suppressing opposition voices ahead of elections, he said: “I think the question you will ask is that we need to commend the courage of Mr. President, that despite the fact that there is an election coming, he is courageous enough to continue on this path of statesmanship and not of politicians.”

The NRS boss explained that it would have been politically expedient to shelve the reforms during an election cycle, but President Bola Tinubu opted to strengthen the country’s fiscal foundation and economic governance.

He outlined that the agenda targets structural tax system weaknesses, enhances fairness, and fosters a simplified, predictable compliance environment to boost voluntary participation over coercion.

Adedeji attributed public scepticism to Nigeria’s history of perceived institutional misuse, but stressed the new framework minimises administrative discretion through rule-based processes, automation, accountability, and governance safeguards insulated from political influence.

According to him, the reforms emphasise taxpayer trust, linking taxes to visible public service improvements while expanding growth opportunities and sustainable public finances.

He reaffirmed the focus on economic stability, credible institutions, phased implementation, investment support, vulnerable group protection, and freedom from partisan interference.


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Court Sends Faleti, Ex-Lagos Director to Jail for Stealing ₦48.9m from Access Bank

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An Ikeja Special Offences and Domestic Violence Court on Monday sentenced Olawale Faleti, a former Lagos State Education director, to two years and five months’ imprisonment for stealing ₦48.9 million from Access Bank Plc.

Court Sends Faleti, Ex-Lagos Director to Jail for Stealing ₦48.9m from Access Bank

Justice Rahman Oshodi convicted Faleti, 64, on five counts of stealing after finding him guilty of charges filed by the Economic and Financial Crimes Commission (EFCC).

In his judgment, Oshodi said the offence was deliberate and sustained, noting that Faleti carried out repeated withdrawals despite knowing he had no authorisation to access the funds.

The judge added that the convict failed to show genuine remorse or fully accept responsibility for his actions.

“Financial institutions are the lifeblood of our economy and public confidence in them must be preserved,” Oshodi said, adding that “Those who attempt to defraud or steal from banks must understand that severe consequences will follow.”

While acknowledging Faleti as a first-time offender, the court said a custodial sentence was unavoidable.

The judge applied a 20 per cent reduction from the three-year maximum sentence, citing minimal restitution efforts as a mitigating factor.

Faleti was sentenced to two years and five months’ imprisonment on each of the five counts, with the sentences ordered to run concurrently.

The court directed that the sentence take effect from January 5, 2026, and ordered that Faleti’s biometric details and name be entered into the Lagos State Judiciary offenders’ registry.

After deducting ₦3 million already restituted, the court ordered Faleti to pay an outstanding ₦45.9 million to Access Bank Plc, directing the bank to notify the court upon full recovery of the funds.

Earlier, Mr Ahmed Dambuwa, EFCC counsel, told the court that Faleti dishonestly converted ₦48.9 million belonging to the bank by exploiting unauthorised access to an Access Bank credit card.

He said the card permitted withdrawals of not less than ₦43,000 per transaction, but a system glitch enabled Faleti to withdraw about ₦48 million during the COVID-19 pandemic in 2020.

One of the charges stated that between July 2 and July 10, 2020, Faleti converted ₦12.6 million for personal use, while another alleged that between May 22 and July 1, 2020, he converted ₦6.9 million, all property of Access Bank Plc.

The offences were said to contravene Section 287(1)(a) of the Criminal Law of Lagos State, 2015.


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